The dollar opened this Thursday (19) lower against the real, in line with the international movement of recovery of riskier currencies after a strong wave of sales the day before, when fears about inflation, monetary tightening and possible economic slowdown increased the search for security.
At 9:06 am (GMT), the spot dollar retreated 0.53%, to R$ 4.9548 on sale.
On B3, at 9:06 am (GMT), the first-maturity dollar futures contract dropped 0.32% to R$4.9705.
The spot dollar rose 0.78%, to R$4.9813 on sale, in the last session.
In this trading session, the Central Bank will auction up to 15 thousand traditional foreign exchange swap contracts for the purpose of rolling over the maturity date of July 1, 2022.
On Wednesday (18), the sentiment of greater caution returned to the tone in financial markets, with the fall of global stock markets and commodity prices. Risks related to inflation and the growth of economic activity on a global scale once again weighed on investors’ mood.
The S&P 500 was down 4.04%, the biggest one-day drop since June 2020. The Dow Jones fell 3.57%, while the Nasdaq dropped 4.73%.
In Brazil, the Ibovespa ended the day down 2.34%, at 106,247 points, pulled down by commodity stocks and large banks. It was the first drop after five consecutive rallies.
The greater aversion to risk on Wednesday led the dollar to gain strength against the real.
After having closed the previous session with a fall of 2.2%, the American currency resumed its upward trend and closed the day before quoted at R$ 4.9840, an appreciation of 0.87%. At the maximum of the day, the currency reached R$ 5.001.
Analysts say there is still no end on the horizon for China’s Covid-19 challenges, despite an improving situation in Shanghai that supports the relaxation of restrictions, which has sent commodity and exporter share prices down on the local bourse.
Goldman Sachs on Wednesday cut its 2022 GDP (Gross Domestic Product) growth forecast to 4% from 4.5% as a result of Covid-19-related damage to the economy in the second quarter of this year.
In the United States, shares in retailer Target plunged 25%, the biggest one-day drop since the 1987 crash, after the company said rising costs are likely to impact its annual profit. Walmart, whose shares fell 6.8% on Wednesday, also cited similar reasons for lowering its earnings forecast this year.
Concerns about economic growth and rising inflation have soured the mood in markets, compounded by a 9% jump in UK consumer prices and a faster-than-expected acceleration in Canadian prices.
British inflation hit its highest annual rate since 1982, while Canadian inflation rose to 6.8% last month. Inflation in the UK is now the highest among major economies, but prices are rising rapidly across the world, forcing central banks to raise interest rates despite the potential impact on growth, as suggested by a modest decline in construction of houses in the United States in April.
Reflecting the increased caution of investors in recent times, the cash balance of international fund managers rose to its highest value since the terrorist attacks of September 11, 2001 in the United States, according to a Bank of America survey.
with Reuters
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